News / Containership charter market 'not playing ball', but NOOs are happy

Photo: VesselFinder

Greek non-operating containership owner (NOO) Danaos and compatriot container and bulk shipowner Costamare have both reported another set of strong first-quarter results.

Moreover, unlike their ocean carrier customers, the future return from the container sector is considerably more assured for NOOs, given the current bullish charter market and increased fixture durations.

Indeed, while ocean freight revenues continue to fall, carriers have locked themselves into long-term charters with shipowners that may restrict their ability to reduce costs matching the lower average rates they ...